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ABC Inc. has sales of $2,000,000 for the first quarter of 2019. In making the sales, the company incurred the following costs and expenses.   Variable Fixed Product cost $760,000 $600,000 Selling expenses     95,000    60,000 Administrative expenses     79,000    66,000   Instruction: Prepare a CVP income statement for the quarter ended March 31, 2019.

ABC Inc. has sales of $2,000,000 for the first quarter of 2019. In making the sales, the company incurred the following costs and expenses.   Variable Fixed Product cost $760,000 $600,000 Selling expenses     95,000    60,000 Administrative expenses     79,000    66,000   Instruction: Prepare a CVP income statement for the quarter ended March 31, 2019.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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ABC Inc. has sales of $2,000,000 for the first quarter of 2019. In making the sales, the company incurred the following costs and expenses.

 

Variable

Fixed

Product cost

$760,000

$600,000

Selling expenses

    95,000

   60,000

Administrative expenses

    79,000

   66,000

 

Instruction:

Prepare a CVP income statement for the quarter ended March 31, 2019.

 

 

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